Pakistan equity market witnesses mixed session

• The Mixed session was observed at the Pakistan Stock Exchange (PSX) on Thursday.
• The KSE-100 Index closed at 40,733.51 points, up 113.57 points, or 0.28 per cent.
• The volumes decreased 5.3 per cent from 131.1 million shares to 124.1 million shares.

KARACHI: Another mixed session was observed at the Pakistan Stock Exchange (PSX) on Thursday, owing to the ongoing political instability, analysts said.

An analyst at Arif Habib Limited said the market opened in the negative zone but fluctuated both ways, as the index reached an intraday high of 206.72 points and finished in the green on the investors’ optimism about the finalisation of the ninth review of the IMF programme.

The KSE-100 Index closed at 40,733.51 points, up 113.57 points, or 0.28 per cent. The volumes decreased 5.3 per cent from 131.1 million shares to 124.1 million shares. The average value of the traded shares also decreased 3.2 per cent to $22.6 million as against $21.8 million a day ago.

Ahsan Mehanti at Arif Habib Corporation said that the stocks showed recovery in the earnings season rally at the PSX on strong valuations.

“The mid-session pressure remained on the rupee instability, dismal petroleum sales and concerns over 27.5 per cent Consumer Price Index (CPI) inflation for January 2023.

Institutional interest ahead of the completion of the ninth review, amid speculations over likely help from the US to ease the IMF terms played a catalytic role in the bullish activity.

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